I know more about banking than you know it alls. Already proved Crayford wrong regarding the challenger banks. And ING dropped their mainframe as their stock price is cut in half the last 20 years. Explain the complex reasons or are you making that up too?
Sent from Yahoo Mail for iPhone On Thursday, April 6, 2023, 10:11 PM, Doug <[email protected]> wrote: For alot more complex reasons than your simplistic view of banking. Perhaps some time learning real banking might help. Or some macroeconomics to go along with it. I've made plenty over the years on the right bank investments. And took some risks with others. But I actually understand the business. And despite your pronouncement, plenty of retail banks are quite profitable. Doug Fuerst [email protected] ------ Original Message ------ From: "Bill Johnson" <[email protected]> To: [email protected] Sent: 06-Apr-23 20:19:39 Subject: Re: Stop the ragging on COBOL please [was: RE: ASM call by value] >I did. Mellon Bank during the transition from retail bank to investment bank. >Retail banking sucks for profits. That’s why Citi is selling for 6 times >earnings. ING stock would have lost you a ton of money over the last 20 years. >Why are bank stocks selling at a huge discount to the market? > > >Sent from Yahoo Mail for iPhone > > >On Thursday, April 6, 2023, 8:06 PM, Doug <[email protected]> wrote: > >Maybe you should have actually worked in retail banking, which clearly, >you never have. > > >Doug Fuerst >[email protected] > >------ Original Message ------ >From: "Bill Johnson" <[email protected]> >To: [email protected] >Sent: 06-Apr-23 19:16:58 >Subject: Re: Stop the ragging on COBOL please [was: RE: ASM call by >value] > >>Like I said, there’s little money in retail banking. And zero money to be >>made in challenger banking. It’s why they are all shrinking or closed. Mellon >>bank saw this 20+ years ago. ING & others are focusing more on investment >>banking. Mostly for the high net worth people but also people in our >>financial arena. It’s why Bank of America agreed to take on Merrill Lynch in >>2008 during the meltdown. And still can’t make much money because of their >>focus on retail banking. Wells Fargo got fined a bundle for trying to rip off >>consumers because there’s little money in retail banking. Most banks are >>trying to get into investment banking where significant money can be made. >>Quasi Goldman Sachs or Morgan Stanley like. >> >>You can see how precarious the economy is for retail banking companies by how >>quickly they can become insolvent. Even a bank considered excellent because >>of their clientele like SVB. Then Credit Suisse almost went belly up until >>UBS saved them. Deutsche Bank isn’t exactly a bastion of profitability >>either. Citibank almost went belly up in 2008. One of the largest banks in >>the world. Anyone who claims banking, especially retail banking is a profit >>generating machine is not paying attention. >> >> >>Sent from Yahoo Mail for iPhone >> >> >>On Thursday, April 6, 2023, 6:07 PM, René Jansen >><[email protected]> wrote: >> >>They will be disappointed if they hear that, there are a fusion between >>Rijkspostspaarbank, NMB (Nederlansche Middenstandsbank, Postcheque en >>Girodienst, and Nationale Nederlanden. They are a very large bank in the >>Netherlands. And yes they are off the mainframe, running a lot of mainframe >>stuff on Micro Focus. >> >>best regards, >> >>René. >> >>> On 7 Apr 2023, at 00:01, Bill Johnson >>><[email protected]> wrote: >>> >>> ING isn’t a bank either. >>> >> >>---------------------------------------------------------------------- >>For IBM-MAIN subscribe / signoff / archive access instructions, >>send email to [email protected] with the message: INFO IBM-MAIN >> >> >> >> >>---------------------------------------------------------------------- >>For IBM-MAIN subscribe / signoff / archive access instructions, >>send email to [email protected] with the message: INFO IBM-MAIN > >---------------------------------------------------------------------- >For IBM-MAIN subscribe / signoff / archive access instructions, >send email to [email protected] with the message: INFO IBM-MAIN > > > > >---------------------------------------------------------------------- >For IBM-MAIN subscribe / signoff / archive access instructions, >send email to [email protected] with the message: INFO IBM-MAIN ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to [email protected] with the message: INFO IBM-MAIN ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to [email protected] with the message: INFO IBM-MAIN
